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Ross Stores, Inc. (NASDAQ: ROST) is a prominent player in the retail industry, renowned for its off-price apparel and accessories. Founded over 30 years ago, the company has evolved from a modest six-store chain into an $11 billion Fortune 500 company. The growth of Ross Stores has been remarkable, with its sales consistently outpacing traditional retailers over the past three years.
Ross Stores operates through two main retail chains: Ross Dress for Less® and DD’s Discounts®. The Ross Dress for Less® brand boasts over 1,250 stores spread across 33 states, the District of Columbia, and Guam. DD’s Discounts® complements this with more than 165 stores in 15 states. The company’s core business model revolves around procuring excess brand-name merchandise from manufacturing overruns and retail liquidations at prices significantly lower than their original retail value, often between 20%-60% off. This allows Ross Stores to offer consumers high-quality goods at reduced prices and creates a unique treasure hunt shopping experience.
The bulk of Ross Stores’ operations under its flagship, Ross Dress for Less, target middle-income consumers in densely populated suburban regions. The firm ensures a diverse array of stock-keeping units with minimal product depth, enhancing the shopping adventure. On the other hand, DD’s Discounts caters to lower-income shoppers with similarly discounted, brand-name merchandise.
Ross Stores’ strategy of cost-efficient operations and continuous expansion has underpinned its financial success. The company keeps operational costs low, passing the savings directly to customers, which has been a significant factor in maintaining its competitive edge. As of now, Ross Stores continues to open new outlets and adapt to market trends, ensuring sustainable growth and customer satisfaction.
For more information, visit the company’s official websites: www.rossstores.com and www.ddsdiscounts.com.
Ross Stores (ROST) reported Q3 2024 earnings with mixed results. EPS rose to $1.48 from $1.33, while net income increased to $489 million from $447 million year-over-year. Q3 sales reached $5.1 billion, up from $4.9 billion, with comparable store sales growing 1%. Operating margin improved to 11.9% from 11.2%. However, the company expressed disappointment with Q3 sales performance, citing impacts from severe weather and warm temperatures. For Q4 2024, Ross projects comparable store sales growth of 2-3% and updated full-year 2025 EPS guidance to $6.10-$6.17.
Ross Stores (NASDAQ: ROST) has declared a quarterly cash dividend of $0.3675 per common share, payable on December 31, 2024, to stockholders of record as of December 10, 2024. The company, a major off-price retailer, currently operates 1,836 Ross Dress for Less® locations across 43 states, DC, and Guam, and 356 dd's DISCOUNTS® stores in 22 states. Ross Stores reported fiscal 2023 revenues of $20.4 billion, offering brand-name merchandise at 20-60% savings at Ross and 20-70% savings at dd's DISCOUNTS.
Ross Stores (ROST) has scheduled its third quarter 2024 earnings release for Thursday, November 21, 2024, at approximately 4:00 p.m. Eastern time, followed by a conference call at 4:15 p.m. Eastern time. The company operates 1,836 Ross Dress for Less® locations across 43 states and 356 dd's DISCOUNTS® stores in 22 states. Ross Stores reported fiscal 2023 revenues of $20.4 billion. The company offers name brand and designer merchandise at 20% to 60% savings at Ross locations and 20% to 70% savings at dd's DISCOUNTS®.
Proficient Auto Logistics (NASDAQ: PAL) has appointed Brenda Frank to its Board of Directors. Frank currently serves as Group Senior Vice President of Human Resources, Buying Offices at Ross Stores, leading a team of over 80 professionals. She brings extensive experience in human capital management and legal matters, having previously held executive positions at Stericycle and Shred-it. Frank's background includes roles as Chief People Officer at Stericycle and Executive VP of HR, Franchise Relations, General Counsel & Secretary at Shred-it. She holds a J.D. from NYU School of Law and a B.S. in Accounting from SUNY Albany.
Ross Stores (ROST) has appointed James Conroy (54) as its next Chief Executive Officer, effective February 2, 2025. Conroy, who brings over 25 years of retail experience, will initially join as CEO-Elect on December 2, 2024. He previously served as President and CEO of Boot Barn since 2012. Current CEO Barbara Rentler (67) will transition to an advisory role until March 31, 2027, focusing on merchandising strategies. Ross Stores operates 1,836 Ross Dress for Less locations and 356 dd's DISCOUNTS stores, generating fiscal 2023 revenues of $20.4 billion.
Boot Barn Holdings reported Q2 FY2025 financial results and announced CEO transition. Net sales increased 13.7% to $425.8 million, with same-store sales up 4.9%. Net income reached $29.4 million ($0.95 per diluted share), compared to $27.7 million ($0.90 per diluted share) in the prior year. The company opened 15 new stores, reaching 425 locations.
CEO Jim Conroy will step down effective November 22, 2024, to join Ross Stores. John Hazen, current Chief Digital Officer, will become Interim CEO, while Peter Starrett will assume the role of Executive Chairman. For FY2025, Boot Barn projects total sales of $1.874-1.907 billion and plans to open 60 new stores.
Ross Stores, Inc. (Nasdaq: ROST) has completed its 2024 store growth plans by opening 47 new locations across 22 states in September and October. This includes 43 Ross Dress for Less® and four dd's DISCOUNTS® stores. The company added 89 new locations throughout the year, expanding in both existing and newer markets.
Ross Dress for Less added stores in Minnesota, New York, and Pennsylvania, while also increasing its presence in sunbelt states. dd's DISCOUNTS grew its footprint in California, Florida, New Mexico, and Texas. The company now operates a total of 2,192 locations in 43 states, the District of Columbia, and Guam.
Ross Stores aims to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations over time. The company reported fiscal 2023 revenues of $20.4 billion.
Ross Stores, Inc. (Nasdaq: ROST) has announced a $400,000 donation from the Ross Stores Foundation to American Red Cross Disaster Relief in response to Hurricane Helene. The funds will support various disaster relief efforts, including shelter, food, and emergency supplies. Additionally, Ross is accepting customer donations at 477 store locations across six states from October 7th to 20th.
CEO Barbara Rentler expressed the company's commitment to supporting local communities during times of need. Ross Stores, an S&P 500, Fortune 500, and Nasdaq 100 company, reported fiscal 2023 revenues of $20.4 billion. As of August 3, 2024, the company operates 1,795 Ross Dress for Less® locations in 43 states and 353 dd's DISCOUNTS® stores in 22 states, offering discounted apparel and home fashions.
Ross Stores (NASDAQ: ROST) announced key merchandising leadership changes effective December 1, 2024. Karen Fleming will be promoted to President and Chief Merchandising Officer of Ross Dress for Less, while Karen Sykes will become President and Chief Merchandising Officer of dd's DISCOUNTS. Both executives will report directly to CEO Barbara Rentler.
Fleming, currently leading dd's DISCOUNTS, brings over two decades of experience within the company. Sykes, with three decades at Ross, moves from her role as Executive VP of Merchandising for Men's and Children's at Ross Dress for Less. These promotions aim to strengthen Ross Stores' off-price strategies and drive profitable market share growth.
Ross Stores, an S&P 500 and Fortune 500 company, reported fiscal 2023 revenues of $20.4 billion. The company operates 1,795 Ross Dress for Less locations and 353 dd's DISCOUNTS stores across the United States.
Ross Stores (ROST) reported strong Q2 2024 results, with earnings per share of $1.59 on net income of $527 million, up from $1.32 EPS in Q2 2023. Total sales increased 7% to $5.3 billion, with comparable store sales up 4%. For the first half of 2024, EPS was $3.05 on net income of $1.0 billion, with sales growing to $10.1 billion. The company's operating margin improved by 115 basis points to 12.5%.
Ross Stores provided guidance for the second half of 2024, projecting comparable sales growth of 2% to 3% for both Q3 and Q4. The company updated its full-year 2024 EPS guidance to a range of $6.00 to $6.13, compared to $5.56 in 2023. Management remains cautious due to persistent economic pressures on their low-to-moderate income customers and challenging year-over-year comparisons.
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